1. Home
  2. Browse Decisions
  3. F.2d
  4. 126 F.2d
  5. 126 F.2d 898 (1942)
 

COMMISSIONER OF INTERNAL REV. v. CORPUS CHRISTI T. CO.

No. 9987.

126 F.2d 898 (1942)

COMMISSIONER OF INTERNAL REVENUE v. CORPUS CHRISTI TERMINAL CO.

Circuit Court of Appeals, Fifth Circuit.

April 3, 1942.

Attorney(s) appearing for the Case

Robert N. Anderson, Sewall Key, J. Louis Monarch, and Gerald L. Wallace, Sp. Assts. to Atty. Gen., Samuel O. Clark, Jr., Asst. Atty. Gen., and J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and John W. Smith, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for petitioner.

Wesley E. Seale, of Corpus Christi, Tex., and Geo. S. Atkinson, of Dallas, Tex., for respondent.

Before HUTCHESON, HOLMES, and McCORD, Circuit Judges.

HOLMES, Circuit Judge.

The ultimate question for decision is what is the gain or loss basis of certain assets sold by respondent in 1934 for $150,000. For the prior history of this case, see Corpus Christi Terminal Co. v. Commissioner, 38 B.T.A. 944; Commissioner v. Corpus Christi Terminal Co., 5 Cir., 110 F.2d 651; and Id., March 21, 1941, 43 B.T.A. 1207.

The taxpayer corporation was created in 1931 pursuant to a contract...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases